Key Decisions and Quantitative Figures
Preferential Issue of Fully Convertible Warrants:
- Approval for issue and allotment of up to 70,00,000 (Seventy Lakh) Fully Convertible Warrants
- Each warrant carries right to subscribe to one Equity Share of face value ₹10
- Issue price: ₹196 per Warrant
- Total issue size: Up to ₹1,37,20,00,000 (One Hundred Thirty-Seven Crore and Twenty Lakh)
- Allottee: Essix Biosciences Limited (Promoter & Promoter Group entity)
- Conversion period: Maximum 18 months from date of allotment
- Consideration: Cash
- Subject to approval of members and applicable regulatory authorities
Governance and Procedural Approvals:
- Authorization to Preferential Issue Committee to take all necessary actions and finalize relevant documents
- Alteration of Article 76 of Articles of Association regarding director retirement and re-appointment provisions
- Extraordinary General Meeting scheduled for August 5, 2026 to seek shareholder approval
- Appointment of CS Vishal Arora, Practicing Company Secretary as Scrutinizer for e-voting process
Meeting Details
- Meeting date: July 10, 2026 (Friday)
- Meeting duration: 4:00 PM to 5:00 PM
Financial Impact
The preferential issue, if fully subscribed and converted, would result in inflow of ₹137.20 crore and potential issuance of up to 70,00,000 equity shares, representing dilution of existing share capital. The exact dilution percentage cannot be calculated as current share capital figures are not provided in the disclosure.
Next Steps
Shareholder approval to be sought at Extraordinary General Meeting scheduled for August 5, 2026.